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re: Any posters out there that feel their student loan debt is "unjust"?
Posted on 2/2/16 at 1:24 am to Schwartz
Posted on 2/2/16 at 1:24 am to Schwartz
I finished with just under 15k in debt. Not unjust at all. The worst is kids that go to NYU, Columbia, Norrhwestern, ect... all on loan and act like they are being screwed by the government for being in debt for the next 20 years.
The real issue is people need to be educated better on what they are signing up for. It surprised me how easy it was to get a loan
The real issue is people need to be educated better on what they are signing up for. It surprised me how easy it was to get a loan
Posted on 2/2/16 at 7:07 am to Big Moe
Meh, not too upset about student loans, pretty much knew what I was getting into. More mad that LSU screwed me on OOS tuition. Qualified to have it waived had I applied straight out of high school, but one semester in as a transfer student I got nothing.
Posted on 2/2/16 at 7:08 am to Schwartz
Unjust? How can a studentpan be unjust when the student readily agreed to the terms? It's not like it's a predatory loan company that charges 100% interest.
Posted on 2/2/16 at 7:13 am to djangochained
Went to school and didn't pay a dime #ROTC
Posted on 2/2/16 at 7:23 am to MrSmith
quote:
No but it still blows. I paid over $2k in interest alone in 2015
I paid $12,000. It is what it is. It will pay dividends if you made the right choices.
Posted on 2/2/16 at 7:24 am to TheWiz
Holy shite how is that possible?
Posted on 2/2/16 at 7:28 am to Schwartz
People know the cost of school going in and are not coerced in any way to take loans.
Sure it sucks having the debt if you had to take out a loan, but it's the cost of doing business.
Sure it sucks having the debt if you had to take out a loan, but it's the cost of doing business.
Posted on 2/2/16 at 7:32 am to Schwartz
This thread is depressing.
I'm just a damn ATM provided by God
It blows but it will pass.
I'm just a damn ATM provided by God
It blows but it will pass.
This post was edited on 2/2/16 at 8:13 am
Posted on 2/2/16 at 8:24 am to danilo
quote:
No but the rate of tuition increases is getting out of hand. In some cases tuition has increased 4x the rate of inflation in the last 20 years.
I'll agree with this. Tuition has seriously gotten out of control.
I'll go one step further...text books prices are completely ridiculous. They change 2 sentences in a book, double the price, and kill the value of an older version.
I approve of capitalism so I don't want "price control", but I really wish several competitors or new companies would emerge that create price competition and lower the market average.
Posted on 2/2/16 at 8:26 am to lnomm34
quote:
Wait. Do you think that student loan interest is compound interest?
When you don't pay anything on your loans for 5-6 years while you are in undergrad and grad school, the interest is certainly compounding.
By definition- This addition of interest to the principal is called compounding.
Posted on 2/2/16 at 8:28 am to LSU-MNCBABY
quote:
People know the cost of school going in and are not coerced in any way to take loans.
I kind of disagree.
You are indirectly coerced because our society has convinced everyone from a very young age they HAVE to go to college to get a good job.
Its a lifetime of brainwash coercion.
Posted on 2/2/16 at 8:30 am to MrSmith
quote:
Holy shite how is that possible?
We were able to take out a private loan through a local bank and consolidate our student loans (family has mucho dollars tied up with them). The agreement was five years interest only, and then the last five years were a balloon note. Loan was for $248,000. Wife is finishing her fellowhip in Allergy/Immunology and I got my MBA; which has rewarded me so far...
Posted on 2/2/16 at 8:30 am to TheCaterpillar
quote:
convinced everyone from a very young age they HAVE to go to college to get a good job.
Society has convinced me that I need a BMW and a Rolex. I'm going to take out a personal line of credit and when I can't pay it, I'll call it unjust.
Posted on 2/2/16 at 8:34 am to KG6
quote:
Society has convinced me that I need a BMW and a Rolex. I'm going to take out a personal line of credit and when I can't pay it, I'll call it unjust.
A. I never called student loan debt unjust
B. That is a fricking terrible comparison. Society hasn't convinced you that you need that stuff to make a living and support a family.
C. I think ultimately responsibility is on the individual, but there can be partial blame placed on this culture we've created that brainwashes everyone into thinking they ALL need to go to college to succeed.
Posted on 2/2/16 at 8:42 am to Schwartz
I made the loan so it on me to pay it off. The problem is that you have retarded people taking out way more than they should ever need to attend college. When I graduated from a state institution in 2007 I owed $18,000. I was penalized and not able to consolidate my loans because I did not borrow more than $20,000. So my interest rates fluctuated year to year. I only took out enough to pay for the year and I worked a full time job while going to school the full time. I paid off the last of my loan last January because we had our first child on the way and we had the money and it would save us 250 per month on our bills. You would have thought I was asking for the lady's first born just to get what my payoff would be that day so I could make the payment.
At the time my payoff was a little north of $4,000 and the lady told me that I had 48 more payments before payoff I ran the numbers in my head and I saved myself over 4,000 dollars in interest by paying it off when I did. I understand some people will have hard times paying back their loans because they choose a degree program with limited opportunities and even worse pay scales. No student loan debt should be forgiven unless there is a program already on the books. The students already have zero money management skills and by basically writing off their loans, they will think that the government will help them out when their car bill is late.
Change the system weed out people who no business being in college and steer them towards a trade school or something along those lines. I am someone who never should have went to college because it was not interested and never really applied myself and probably would have been happier being a welder instead of in business until I got my current job which combines blue collar and white collar facets. College isn't for everyone.
At the time my payoff was a little north of $4,000 and the lady told me that I had 48 more payments before payoff I ran the numbers in my head and I saved myself over 4,000 dollars in interest by paying it off when I did. I understand some people will have hard times paying back their loans because they choose a degree program with limited opportunities and even worse pay scales. No student loan debt should be forgiven unless there is a program already on the books. The students already have zero money management skills and by basically writing off their loans, they will think that the government will help them out when their car bill is late.
Change the system weed out people who no business being in college and steer them towards a trade school or something along those lines. I am someone who never should have went to college because it was not interested and never really applied myself and probably would have been happier being a welder instead of in business until I got my current job which combines blue collar and white collar facets. College isn't for everyone.
Posted on 2/2/16 at 8:47 am to Perrydawg
I feel like the institutions granting these loans should look at them more like business deals.
You want $70K per year at Columbia to pursue a degree in theater? HAHAHAHA, NO.
You want $30K per year to attend the University of Virginia with in-state tuition to major in engineering? Well okay then, that's probably going to pay off in the end.
The riskier the loan, the higher the interest, if it's accepted at all.
You want $70K per year at Columbia to pursue a degree in theater? HAHAHAHA, NO.
You want $30K per year to attend the University of Virginia with in-state tuition to major in engineering? Well okay then, that's probably going to pay off in the end.
The riskier the loan, the higher the interest, if it's accepted at all.
Posted on 2/2/16 at 8:49 am to TheCaterpillar
I don't think society has brainwashed us into thinking we need to go to college to succeed. I think it's brainwashed people into thinking they are entitled to go to college because manual labor is below them. Blue collar work has always been there and will always be there providing just as much of a livelihood as any college grad can make. But, that's not what people want. Most people would much rather sit behind a computer than be a plumber. And we've created a system that people feel entitled to 4 more years of education.
Posted on 2/2/16 at 8:50 am to KG6
Education is a right and should be provided for free imo
Posted on 2/2/16 at 8:52 am to arn
quote:
Education is a right and should be provided for free imo
Well, it is provided through 12th grade.
That's a lot of free education.
Posted on 2/2/16 at 8:52 am to arn
quote:
Education is a right and should be provided for free imo
To what level? Should everyone be able to go get a doctorate degree for free?
We already provide free* public education up to the completion of high school.
*You pay for it, via taxes of course.
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